I came across this installed program in Control Panel>Programs and it looked a little weird and suspicious.

It turns out that it is needed by some sound cards in both Vista and Windows 7, because Microsoft in it's wisdom removed "DirectSound 3D Hardware support from Direct X with the launch of Windows Vista. DirectSound and DirectSound3D will still function; however, they will no longer use hardware acceleration."

According to Creative Labs:

The Future Is OpenAL

The good news for owners of advanced audio cards like SoundBlaster X-Fi is that the developer community has been preparing for this for over 3 years. Hardware audio will not be disappearing with the launch of Windows Vista. Games that support OpenAL today will continue to provide full hardware-enhanced 3D audio under Windows Vista. This includes games such as Battlefield 2, Doom3, Unreal Tournament2k4, Dungeon and Dragons Online, Prey, Quake 4, and many others (a full list can be found at http://www.openal.org/titles.html). These games have complete hardware-based HRTF support for multiple speaker and headphone setups as well as full support for all the different versions of EAX. Also, these games will be able to take advantage of the hardware-accelerated path on supporting hardware for performance and quality increases.

Windows Vista [and Windows 7] will be ushering in a new age for PC gaming, with great new graphics, physics and CPU support. When combined with OpenAL and the widespread developer support it is receiving, gamers will also be hearing some of the best audio ever on Windows Vista.

So there's no need to remove it

"The great majority of mankind are satisfied with appearances, as though they were realities, and are often more influenced by the things that seem than by those that are." - Niccolo Machiavelli